"During the crisis we were cutting interest rates, but in
February we increased when we saw that inflation was creeping
back," Marchenko told an economic conference in Prague.

"We are also now contemplating increasing minimum reserve
requirements."

Marchenko added that the central bank had bought around $6
billion in foreign currency since the start of the year to
prevent the Kazakh tenge KZT= from appreciating too fast.
(Reporting by Jan Lopatka; writing by Michael Winfrey)

Next In Hot Stocks

EDINBURGH, Dec 9 Shares in Capita fell
further on Friday after a profit warning and the decision to
sell its asset management business left investors questioning
the British outsourcing group's strategy.

* the European Central Bank has rejected a request by the
lender for more time to raise capital, a source told Reuters, a
decision that piles pressure on the Rome government to bail out
the lender
Further company coverage:
(Reporting by Milan newsroom)

MILAN, Dec 9 A consortium of investment banks
that must decide whether to underwrite a privately-backed
5-billion euro rescue plan for Monte dei Paschi di Siena
believes there is not enough time and no willing
investors to execute the deal by a year-end deadline, a source
said on Friday.

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